Coast Capital Savings has donated $500,000 to support Surrey students at Kwantlen Polytechnic University.
The Coast Capital Savings/PCI Development Endowment, according to a release from KPU Wednesday (March 6), will generate $25,000 annually to provide five $5,000-bursaries each year to support Newton, Whalley, Surrey Central or Guildford residents who are enrolled at KPU.
The new donation came from negotiations between Coast Capital Savings and developer PCI when planning the credit union’s new King George Boulevard headquarters, according to the release. The bursary eligibility criteria, reads the release, “reflect the donor’s wish to help students from neighbouring communities.”
“Coast Capital Savings has a rich history as a corporate citizen here in Surrey. With our new building, we have made the conscious decision to put down even deeper roots in the city,” said Tracey Arnish, chief member experience officer at Coast Capital Savings.
“It was important to us that we do something tangible to celebrate our new home, our community and the youth who live and go to school here. This endowment signifies our commitment to building strong, educated and thriving communities for our young people. We are excited to see the great things that this investment will continue to do for the students who receive these bursaries.”
The release says this is the second time Coast Capital Savings has donated “a major gift to support students at KPU.”
In 2009, the company donated $1 million. At the time, the release reads, it was “the largest single donation received by KPU and the biggest single community investment for Coast Capital.”
“Coast Capital Savings was among the first truly transformational donors to the university in its early years,” said Steve Lewarne, executive director of advancement and CEO of the KPU Foundation. “With more than $1.7 million gifted to KPU over the years, Coast Capital Savings has almost $1.3 million in endowed funds with the KPU Foundation.”